Report: Sacramento Kings on verge of being sold, moved to Seattle

The Sacramento Kings are reportedly on the verge of being sold and moved to Seattle, Yahoo Sports reported Wednesday morning.

The Maloof family, the owners of the Kings, are finalizing a deal that would sell the team to a group led by Chris Hansen in Seattle for $500 million, sources told Yahoo's Adrian Wojnarowski.

The plan would be for Hansen's group to move the team to Seattle for the 2013-14 season, where they would play in the Key Arena for two years before moving to a new Seattle arena. Seattle lost the SuperSonics to Oklahoma City in 2008.

Meanwhile, a source close to the Kings told the Sacramento Bee that the Yahoo report was inaccurate.

The Kings' future in Sacramento has been uncertain because the Maloofs and the city haven't been able to come up with a long-term arena solution.